Written by ForexBrokers.com
In this head to head comparison of IG vs Eightcap, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When it comes to choosing an online broker, understanding trustworthiness and regulatory standards is key. IG, founded in 1974, stands out with an impressive Trust Score of 99 from ForexBrokers.com, reflecting the highest level of trust. As a publicly traded bank, IG holds 8 Tier-1 licenses, signaling a strong commitment to regulatory compliance. Additionally, IG boasts 2 Tier-2 licenses, further solidifying its reputation for reliability in the financial sector.
Comparatively, Eightcap, which was established in 2009, offers a respectable Trust Score of 85. Although not a publicly traded company or a bank, Eightcap demonstrates a commendable level of trust with 3 Tier-1 licenses under its belt. However, it holds no Tier-2 licenses, which may be a consideration for some users. While both brokers have their strengths, IG's extensive history and regulatory credentials give it a distinct edge for those prioritizing trust and control in an online trading partner.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Year Founded | 1974 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 3 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing the commissions and fees of online brokers IG and Eightcap, both offer specific advantages based on trading preferences. IG stands out with a 5-star rating, ranking 8th out of 63 brokers according to ForexBrokers.com. It caters to active traders with its Forex Direct accounts, offering an average spread of 0.62 pips and an all-in cost of 0.82 pips when considering per trade commissions. IG also provides a structured rebate program, allowing significant discounts for volume traders, potentially reducing costs further to 0.60 pips. Additionally, IG’s CFD accounts, covering a broader spectrum of trade volumes, have average spreads ranging from 0.69 pips to 0.98 pips, demonstrating overall competitiveness.
In contrast, Eightcap, while offering slightly higher costs overall, provides competitive pricing through its two account types: the commission-based Raw account and the spread-only Standard account. The Raw account features an enticing average spread of 0.06 pips. However, when considering the $3.50 per trade commission, the effective all-in cost rises to around 0.76 pips. Eightcap holds a commendable 4-star rating and ranks 26th among 63 brokers, suggesting a slight premium above the lowest-cost options for forex trading, yet still remaining below the industry average of 0.8 pips.
Ultimately, IG offers more appealing options for traders interested in volume discounts and robust active trading solutions, whereas Eightcap strikes a balance between low spreads and manageable commissions for those who prefer straightforward cost structures. Each broker provides unique benefits tailored to different trading strategies and requirements, allowing traders to select the best platform based on their individual needs.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| Average Spread EUR/USD - Standard | 0.98 | 1.0 |
| All-in Cost EUR/USD - Active | 0.82 | 0.76 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to the variety of investments available, online brokers IG and Eightcap offer different experiences for traders. IG boasts an extensive selection, with 19,537 tradable symbols, including 97 forex pairs, making it a strong choice for investors looking for diverse options. In addition to forex trading available as CFDs, IG allows clients to purchase exchange-traded securities on both U.S. and international exchanges, offering assets such as Apple shares and Vodafone stock. Moreover, IG provides the unique opportunity for clients to buy actual cryptocurrencies, not just derivatives.
Eightcap, on the other hand, provides a more streamlined selection with 800 tradable symbols and 56 forex pairs, also offering forex trading through CFDs. While it does not support the purchase of U.S. or international exchange-traded securities or actual cryptocurrencies, Eightcap offers the ability to trade cryptocurrency derivatives. Eightcap distinguishes itself by offering copy trading, appealing to traders who wish to replicate the strategies of others. In terms of investment variety, IG receives a 5-star rating and ranks 4th out of 63 brokers, while Eightcap receives a 3.5-star rating and ranks 40th in the same category according to ForexBrokers.com.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 800 |
| Forex Pairs (Total) | 97 | 56 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When it comes to comparing the trading platforms and tools of IG and Eightcap, both brokers excel in offering simulated paper trading with free virtual demo accounts, allowing traders to practice without financial risk. IG stands out with its own proprietary platform, showing its commitment to providing a unique trading experience. Both IG and Eightcap offer downloadable Windows-based desktop platforms and web-based options, although only Eightcap supports MetaTrader 5, while both brokers provide MetaTrader 4. Eightcap also edges ahead by offering copy trading, a feature not available with IG. However, IG compensates with the ability to trade directly from stock charts and more drawing tools for charting, boasting 20 compared to Eightcap's 15.
Despite Eightcap providing two more columns for watch lists, IG’s overall platform and tool offerings earn it a higher rating of five stars, compared to Eightcap's four stars. In rankings, IG further asserts its superiority, being placed second out of 63 brokers by ForexBrokers.com for trading platforms and tools, while Eightcap lands at 38th. Though both brokers offer valuable features to suit various trading needs, IG’s proprietary platform and higher rating in trading tools make it a strong contender for those seeking top-tier online trading capabilities.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both IG and Eightcap offer robust platforms for iPhone and Android users. These apps facilitate stock and forex trading, providing crucial features such as price alerts, watchlist syncing, and trendline drawing. Users can access multiple time frames for charts, ensuring comprehensive analysis anytime, anywhere. IG stands out slightly on charting capabilities with 33 technical studies compared to Eightcap's 30. Importantly, both apps offer auto-saving for chart drawings, preventing the loss of essential analyses.
While both platforms allow you to create watchlists with real-time quotes, the app ratings and overall experience set the two apart. IG's mobile app is highly regarded with a 5-star rating, establishing IG as the number one broker for mobile trading apps according to ForexBrokers.com. In contrast, Eightcap garners a respectable 4-star rating, securing the 38th spot out of 63 brokers. These rankings highlight IG's superior user satisfaction and comprehensive functionalities in the mobile trading sphere.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research, IG and Eightcap both offer daily market commentary and provide users with sentiment-based tools to assess trading positions across various instruments. However, IG distinguishes itself by offering forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, while Eightcap does not. Additionally, IG integrates technical and fundamental analysis tools from Autochartist and provides market research through TipRanks and Acuity Trading's Signal Centre. Meanwhile, Eightcap lacks these specific features, potentially impacting the depth of market insights available to its users.
Both brokers offer economic calendars to track global news events, which support strategic trading decisions. In terms of ratings, IG excels with a perfect 5-star rating for research and holds an impressive #2 ranking among 63 brokers as assessed by ForexBrokers.com. Conversely, Eightcap receives a moderate 3.5-star rating and is positioned at #39, indicating room for improvement in their research offerings. Overall, for traders seeking comprehensive and advanced market research tools, IG presents a more enriched platform compared to Eightcap.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources for beginners offered by IG and Eightcap, both platforms provide ample educational materials, including articles, videos, and webinars focused on forex and CFD trading. IG stands out by hosting monthly online webinars, while Eightcap does not offer this feature. Both platforms have searchable archives of recorded webinars, allowing users to access past sessions at their convenience. IG excels further by offering a diverse range of beginner and advanced educational videos, catering to traders at different skill levels. In contrast, Eightcap offers beginner-focused videos but falls short on advanced topics.
IG also provides a comprehensive investor dictionary with definitions of over 50 investing terms, matching the offering from Eightcap. With a perfect 5-star rating for education, IG is ranked number one out of 63 brokers in the Education category by ForexBrokers.com, showcasing its commitment to providing top-notch learning resources for traders. Eightcap, with a 3.5-star rating and ranked at 40th, presents a decent but less extensive educational offering for beginners, making IG the preferred choice for those seeking a thorough educational foundation in trading.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that IG is better than Eightcap. IG finished with an overall rank of #1, while Eightcap finished with an overall rank of #38.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
|
Eightcap
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 85 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
IG provides the option to buy both actual cryptocurrencies and cryptocurrency derivatives, while Eightcap only offers the ability to purchase cryptocurrency derivatives.
In comparing online brokers IG and Eightcap, IG provides more flexible options with support for ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires, while Eightcap, although lacking ACH/SEPA transfer support, offers Skrill alongside PayPal, Visa/Mastercard, and bank wire transactions.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IG | Eightcap | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | IG Review | Eightcap Review |
| Broker Screenshots | IG | Eightcap | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | IG | Eightcap | |
|---|---|---|---|
| Trust Score | 99 | 85 | |
| Year Founded | 1974 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 8 | 3 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | IG | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IG | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 800 | |
| Forex Pairs (Total) | 97 | 56 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IG | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | 1.0 | |
| All-in Cost EUR/USD - Active | 0.82 | 0.76 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | Eightcap | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | Eightcap | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IG | Eightcap | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IG Review | Eightcap Review |
| Overall | IG | Eightcap | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 85 | |
| Winner | check_circle | ||
| Review | IG Review | Eightcap Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill